Nordea Bank (OTCMKTS:NRDBY) Reaches New 1-Year High – Time to Buy?

Nordea Bank AB (OTCMKTS:NRDBY)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $21.39 and last traded at $20.76, with a volume of 12893 shares changing hands. The stock had previously closed at $20.45.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NRDBY. Citigroup reissued a “buy” rating on shares of Nordea Bank in a research report on Friday, July 17th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Nordea Bank in a report on Monday, July 20th. Finally, Morgan Stanley restated an “overweight” rating on shares of Nordea Bank in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Nordea Bank Stock Performance

The firm has a market capitalization of $71.08 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 1.94 and a beta of 0.63. The firm’s 50-day moving average price is $19.83 and its two-hundred day moving average price is $19.02. The company has a debt-to-equity ratio of 6.79, a quick ratio of 1.18 and a current ratio of 1.18.

Nordea Bank (OTCMKTS:NRDBY) last issued its earnings results on Thursday, July 16th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Nordea Bank had a return on equity of 15.18% and a net margin of 22.82%. Sell-side analysts predict that Nordea Bank AB will post 1.78 earnings per share for the current year.

About Nordea Bank

Nordea Bank is a leading financial services group focused on serving retail, corporate and institutional customers across the Nordic region. The bank’s core activities include retail and commercial banking, corporate and institutional banking, asset and wealth management, and related financial services such as payments, cash management and trade finance. Nordea delivers these services through branch and digital channels, aiming to provide integrated banking solutions for everyday consumers, small and medium enterprises, and large corporations.

Product offerings span deposit and lending products including mortgages and consumer loans, transaction banking and treasury services for corporate clients, investment and pension solutions through its asset management businesses, and wealth management services for private clients.